- 2,908
How often do you end out discussing cash accumulation on an FE whole life policy with clients? Firstly, let me say that I understand one of the obvious responses which is that where a policy is intended for final expense, cash accumulation is a minor consideration or not an issue and it is seldom to the clients advantage to ever cash it out. Got that.
However, the cash accumulation factor is there and does soften the blow a little bit and has reduced paid-up implications etc.
One of the reasons that I ask is that some of the carriers have an illustration system that just displays all of that and it is there to be discussed if it is relevant- or not if it is not. On the other hand some of the carriers dont have an illustration or print out that shows cash accumulation. Instead it comes as part of the policy which basically means that you have to get the policy to see what you really get and then free-look out of it if it is not acceptable. I dont like that but can work with it where the rates are good if I have to.
Anyway. The question is: how often does cash accumulation enter into the discussion for you seasoned folks. I would imagine not at all for some or many and that is fine- and again I understand the whole bit about "why would you want to cash it in" etc. Nevertheless, I am asking what it looks like from the seasoned viewpoint, whether that factor comes into discussions regularly.
Thanks for any comments.
Winter
However, the cash accumulation factor is there and does soften the blow a little bit and has reduced paid-up implications etc.
One of the reasons that I ask is that some of the carriers have an illustration system that just displays all of that and it is there to be discussed if it is relevant- or not if it is not. On the other hand some of the carriers dont have an illustration or print out that shows cash accumulation. Instead it comes as part of the policy which basically means that you have to get the policy to see what you really get and then free-look out of it if it is not acceptable. I dont like that but can work with it where the rates are good if I have to.
Anyway. The question is: how often does cash accumulation enter into the discussion for you seasoned folks. I would imagine not at all for some or many and that is fine- and again I understand the whole bit about "why would you want to cash it in" etc. Nevertheless, I am asking what it looks like from the seasoned viewpoint, whether that factor comes into discussions regularly.
Thanks for any comments.
Winter